Day three of Sustainable Finance Week
saw Guernsey's Financial Services Regulator
announce an updated Code of Corporate Governance
to take into account the effects of climate
change.
Company boards will now be asked to consider the impact of
climate change on their strategy and risk profile and, where they
judge it appropriate, make climate change related
disclosures.
Guernsey Financial Services Commission Director General William
Mason said the commission's aim in amending the code is to
ensure Bailiwick firms are prepared to engage with the issue in a
way that is proportionate to the nature of their
businesses.
"We have today issued our code of corporate governance
which is binding on financial services firms in the Bailiwick. We
are asking firms to consider the impact of climate change on the
firm's business strategy and risk profile and, where
appropriate, make timely climate change-based disclosures,"
said Mr Mason.
